Allocation of recovery zone bonds, to whom--application--rulemakingauthority.
108.1010. 1. The department shall allocate recovery zone bonds tocounties and large municipalities in accordance with Section 1400U-1 of theInternal Revenue Code of 1986, as amended, and shall provide notice of suchallocation to each county and large municipality. A county or largemunicipality may, at any time, waive any allocation of recovery zone bondsby providing written notice to the department. Each allocation shall bedeemed waived by the county or large municipality on the sixtieth dayfollowing notice of allocation, except to the extent the county or largemunicipality provided the department with written notice of intent to issuerecovery zone bonds stating the amount and type to be issued. Each countyor large municipality shall notify the department in writing of theissuance of recovery zone bonds. Any recovery zone bonds allocated to acounty or large municipality which remain unissued as of the first day ofJuly of each year, shall be recaptured by the department for reallocation.
2. Any county or large municipality may apply to the department forthe allocation of additional recovery zone bonds to the extent such bondsare available due to the waiver of recovery zone bond allocations by othercounties or large municipalities or the recapture of recovery zone bonds bythe department as provided under subsection 1 of this section. Thedepartment may reallocate such recovery zone bonds to any eligible issuerof recovery zone bonds as provided by rule.
3. The department shall promulgate rules to implement the provisionsof sections 108.1000 to 108.1020. Any rule or portion of a rule, as thatterm is defined in section 536.010, RSMo, that is created under theauthority delegated in this section shall become effective only if itcomplies with and is subject to all of the provisions of chapter 536, RSMo,and, if applicable, section 536.028, RSMo. This section and chapter 536,RSMo, are nonseverable and if any of the powers vested with the generalassembly pursuant to chapter 536, RSMo, to review, to delay the effectivedate, or to disapprove and annul a rule are subsequently heldunconstitutional, then the grant of rulemaking authority and any ruleproposed or adopted after August 28, 2009, shall be invalid and void.
Allocation of recovery zone bonds, to whom--application--rulemakingauthority.
108.1010. 1. The department shall allocate recovery zone bonds tocounties and large municipalities in accordance with Section 1400U-1 of theInternal Revenue Code of 1986, as amended, and shall provide notice of suchallocation to each county and large municipality. A county or largemunicipality may, at any time, waive any allocation of recovery zone bondsby providing written notice to the department. Each allocation shall bedeemed waived by the county or large municipality on the sixtieth dayfollowing notice of allocation, except to the extent the county or largemunicipality provided the department with written notice of intent to issuerecovery zone bonds stating the amount and type to be issued. Each countyor large municipality shall notify the department in writing of theissuance of recovery zone bonds. Any recovery zone bonds allocated to acounty or large municipality which remain unissued as of the first day ofJuly of each year, shall be recaptured by the department for reallocation.
2. Any county or large municipality may apply to the department forthe allocation of additional recovery zone bonds to the extent such bondsare available due to the waiver of recovery zone bond allocations by othercounties or large municipalities or the recapture of recovery zone bonds bythe department as provided under subsection 1 of this section. Thedepartment may reallocate such recovery zone bonds to any eligible issuerof recovery zone bonds as provided by rule.
3. The department shall promulgate rules to implement the provisionsof sections 108.1000 to 108.1020. Any rule or portion of a rule, as thatterm is defined in section 536.010, RSMo, that is created under theauthority delegated in this section shall become effective only if itcomplies with and is subject to all of the provisions of chapter 536, RSMo,and, if applicable, section 536.028, RSMo. This section and chapter 536,RSMo, are nonseverable and if any of the powers vested with the generalassembly pursuant to chapter 536, RSMo, to review, to delay the effectivedate, or to disapprove and annul a rule are subsequently heldunconstitutional, then the grant of rulemaking authority and any ruleproposed or adopted after August 28, 2009, shall be invalid and void.
Allocation of recovery zone bonds, to whom--application--rulemakingauthority.
108.1010. 1. The department shall allocate recovery zone bonds tocounties and large municipalities in accordance with Section 1400U-1 of theInternal Revenue Code of 1986, as amended, and shall provide notice of suchallocation to each county and large municipality. A county or largemunicipality may, at any time, waive any allocation of recovery zone bondsby providing written notice to the department. Each allocation shall bedeemed waived by the county or large municipality on the sixtieth dayfollowing notice of allocation, except to the extent the county or largemunicipality provided the department with written notice of intent to issuerecovery zone bonds stating the amount and type to be issued. Each countyor large municipality shall notify the department in writing of theissuance of recovery zone bonds. Any recovery zone bonds allocated to acounty or large municipality which remain unissued as of the first day ofJuly of each year, shall be recaptured by the department for reallocation.
2. Any county or large municipality may apply to the department forthe allocation of additional recovery zone bonds to the extent such bondsare available due to the waiver of recovery zone bond allocations by othercounties or large municipalities or the recapture of recovery zone bonds bythe department as provided under subsection 1 of this section. Thedepartment may reallocate such recovery zone bonds to any eligible issuerof recovery zone bonds as provided by rule.
3. The department shall promulgate rules to implement the provisionsof sections 108.1000 to 108.1020. Any rule or portion of a rule, as thatterm is defined in section 536.010, RSMo, that is created under theauthority delegated in this section shall become effective only if itcomplies with and is subject to all of the provisions of chapter 536, RSMo,and, if applicable, section 536.028, RSMo. This section and chapter 536,RSMo, are nonseverable and if any of the powers vested with the generalassembly pursuant to chapter 536, RSMo, to review, to delay the effectivedate, or to disapprove and annul a rule are subsequently heldunconstitutional, then the grant of rulemaking authority and any ruleproposed or adopted after August 28, 2009, shall be invalid and void.
